Mortgage Applications Jump 11% As Buyers Rush In Ahead Of Fed Decision
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Mortgage Market Activity: U.S. homebuyers and refinancers saw an 11% increase in mortgage applications last week, driven by a slight drop in average interest rates to 6.84%, marking a significant rebound in housing market activity.
Economic Indicators and Fed Expectations: Mixed economic signals, including negative GDP growth and solid employment gains, have led investors to anticipate the Federal Reserve will maintain current interest rates, with increasing speculation about potential rate cuts by July.
Analyst Views on BRT
Wall Street analysts forecast BRT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BRT is 18.00 USD with a low forecast of 16.00 USD and a high forecast of 20.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 14.960
Low
16.00
Averages
18.00
High
20.00
Current: 14.960
Low
16.00
Averages
18.00
High
20.00
About BRT
BRT Apartments Corp. is a real estate investment trust that owns, operates, and to a lesser extent, holds interest in joint ventures that own and operate multifamily properties. The Company owns or has interests in over 31 multifamily properties with 8,311units in 11 states and has preferred equity investments in two multi-family properties. Generally, its multifamily properties are garden apartments and, to a lesser extent, mid-rise or town home style properties that provide residents with amenities, such as a clubhouse, swimming pool, laundry facilities and Internet access. In addition to its multifamily properties and preferred loan investments, the Company owns assets, and in particular, real estate assets. Its properties include Silvana Oaks Apartments, Avondale Station, Brixworth at Bridge Street, Newbridge Commons, Crossings of Bellevue, Avalon Apartments, Parkway Grande, Woodland Trails, Grove at River Place, Kilburn Crossing, The Woodland Apartments, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
